This card's name and artwork is a reference to iaijutsu, a combat technique which aims to kill an opponent with a single stroke by drawing the katana, land a killing blow, and sheath the katana again.
This card's milling and damaging effect reflects the technique, where the player aims to quickly perform an OTK on the opponent by drawing a copy of this card and damage the opponent, possibly winning the Duel.
This card's effect of shuffling the same number of cards from the Graveyard and into the Deck likely references sheathing the katana at the end of the killing blow.